Cross Laminated Timber Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMCH764 | Last Updated On: Jun 10 2022 | Available Formats

> Global Cross Laminated Timber Market Expected to reach a high CAGR of 14.4% By 2029: DataM Intelligence

Global Cross Laminated Timber Market is segmented By Type (Adhesive Bonded, Mechanically Fastened), By End User (Residential Buildings, Commercial Spaces, Non-Residential, Government spaces, Others(including Industrial constructions)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Cross Laminated Timber Market Size Growth Rate Outlook

The Global Cross-Laminated Timber Market is expected to grow at a high CAGR of 14.4% during the forecasting period 2022-2029. Cross-laminated timber is a prefabricated, large-scale, solid engineered wood panel. Cross-laminated timber panel consists of multiple layers of kiln-dried timber boards arranged in alternating directions, bonded with structural adhesives as well as with dowels or screws or using aluminum nails., and pressed to form a stiff, straight panel.

Each layer of boards is oriented perpendicular and then glued as the name suggests cross-laminated on the side faces of each board, usually in a symmetric way so that the outer layers have the same orientation.

These panels consist of an uneven number of layers usually three, five, or seven, and maybe polished or prefinished before shipping. Panel thickness usually varies from 50 mm to 300 mm, and their size varies from 1.2 to 3 m in width and 5 to 15 m in length.

Market Dynamics

  • These cross-laminated timbers are Lightweight compared to other building materials yet very strong, eco-friendly, with a superior acoustic, recyclable and thermal insulator.

  • Cross-laminated timber is also fast and easy to install with very less wastage. Cross-laminated timber offers design flexibility and can resist high cracking & compressive forces and low environmental impacts. For these reasons, cross-laminated timber is proved to be a highly advantageous alternative with high strength, appearance, versatility, and sustainability to conventional materials like steel or concrete, especially in multi-family and commercial construction all these advantageous features drive the market.

  • It is even cost-effective compared to other materials. The transference from concrete-based construction to wood-based construction for more attractive buildings along with supportive government schemes around the world are boosting the market. The adoption of cross-laminated timbers is increasing day to day due to an increase in construction all around the world.

  • The below statistic gives information about global expenditure from the construction industry from 2014 to 2025. It is estimated that in 2025, the construction spending of the global market will reach USD 14 trillion.

  • There are a few limitations to these construction materials like cross-laminated timbers are relatively new compared to other building materials. Most of them are not aware of its usage, and higher production cost, usually it is not produced by most of the building material manufacturers, and it is rare compared to others.

  • Also, the production of cross-laminated timber panels requires a significant amount of raw materials compared to conventional walls even though there is some government restriction on the construction of high story buildings and commercial sites with wood.

  • For instance, in the United States, the International Building Code limited wooden buildings to four stories.

Market Segmentation

  • Based on the application the global cross-laminated timber market for cross-laminated timber is broadly segmented as residential buildings, commercial sites, industrial spaces, and others. Currently, commercial building is the dominant segment, and it accounts for approximately 40% of the market.

  • Cross-laminated timber is most widely adopted in commercial sites, supported by its various advantages such as speed of installation and efficacy, cost competitiveness, energy efficiency & environmental performance. Therefore, the demand for cross-laminated timber panels is expected to rise at a significant pace shortly.

  • Furthermore, attributing to cross-laminated timber’s carbon capture and reduces carbon dioxide emissions in construction sites, the material. Its applications are increasing due to their aesthetic appeal and design flexibility.

  • The improved fire resistance quality and earthquake-proof offered by cross-laminated timber structure are expected to enhance the market growth over the forecast period. For instance, Australia’s largest cross-laminated timber commercial building has opened in Brisbane is the tallest timber building in Australia with ten stories and 45 meters high the “25 King” open plan office complex.

  • Based on types of cross limited timber market is segmented into adhesive bonded and mechanically fasten cross laminated timbers. Adhesive-bonded cross-laminated timber occupies the significant segment in the market, and it is likely to expand at a higher pace, due to its structural & physical properties of cross-laminated wood.

  • Compared to other cross-laminated timbers, adhesive-bonded cross-laminated timber is mostly used in constructions. Cross-laminated timber panels usually consist of multiple layers of wooden boards arranged diagonal and glued together.

  • This assembly process takes around 15–60 minutes, depending on the adhesives used. An adhesive is applied to fix cross-laminated timber panels. Most of the manufacturers of cross-laminated timber doesn’t use the process of mechanical fastening because of the time it takes and manual power. Manufacturers use nails or wooden pins to connect wood layers vertically.

Geographical Share

  • Global cross-laminated timber market is segmented by geographic region which includes North America, South America, Europe, Asia-Pacific, and ROW. Europe occupies the dominant share in the cross-laminated timber market. In the forecast period, the cross-laminated timber market in Europe is expected to grow at a CAGR of XX%.

  • Europe is the leading region due to the early adoption of cross-laminated timber and research & development in cross-laminated timber technologies by regions like Austria and Germany.

  • In the geographical area of Austria, Germany, Switzerland and Czech Republic, cross-laminated timber production output more than doubled from 2008 to 2013 and reached 456,000 m3.

  • From 2013 to 2014 production was expected to increase an additional 10% to a total of 503,000 m3. Due to the availability of timber and its production of timber from the forests of central European countries and advanced timber processing industries are the leading cause for market growth in the region.

  • For instance, according to the statistics, European timber production accounted for approximately 13.16 million cubic meters in 2014. Countries like the U.S., Japan, New Zealand,China, and the Asia Pacific regions are also rapidly developing markets for cross-laminated timber.

Competitive Trends

  • Prominent players in the global cross laminated market are Stora Enso, Binderholz Bausysteme GmbH, and Mayr-Melnhof Holz Holding AG, Stora Enso, KLH, Binderholz, Hasslacher, Structurlam Mass Timber Corporation, Eugen Decker Holzindustrie KG, Ed. Zublin AG, Schilliger Holz AG, W.u.J. Derix GmbH & Co., and Weinberger-Holz GmbH and others.

  • Product launches, partnerships, and expansions are some of the strategies adopted by players to increase their market share. For instance, in November 2015 Stora Enso launched a free online tool to assist structural designing of cross-laminated timber.

Trending Topics

Laminated Glass Market

Laminated Tubes Market

Litho Laminated Packaging Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: in[email protected]

Get your free sample proposal with a single click!

linkedinpinterest